forecasting Archives - OLAP Vision

OLAP Vision Continues Sales Momentum with Triple Digit Revenue Growth in 2016

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Company Significantly Increases Customer Base and Expands Product, Sales and Support Teams

Toronto, Canada – February 9, 2017 OLAP Vision, the go-to legal and professional services planning and corporate performance software provider, announced today another record-breaking year for revenue growth in 2016 with over 100% growth compared to the same period in 2015. Led by an aggressive customer acquisition strategy and a focus on major market segments, Q4 revenue saw a year-over-year increase of over 150%.  OLAP Vision reached the new milestone by more than doubling its customer base – strategic additions to the consulting and support teams contributed to the ongoing success. The rapid adoption of its unique Xcelerate™ platform has established OLAP Vision as a leader in supporting businesses in legal and professional services industries.

“Our dramatic growth in 2016 is a direct result of our Xcelerate solution, corporate sales strategy and the dedication of our customer implementation and support teams,” said Jag Dhariwal, VP, Global Sales. Thomson Reuters Elite, a division of Thomson Reuters Legal reported record adoption of Xcelerate by 3E® and Enterprise™ firms in 2016.  Dhariwal continued, “The market has demonstrated its desire for a unified and agnostic Excel-based platform that has standard certified integration into any GL, time and billing system – customers have often replaced over four existing systems with Xcelerate.”

Enabling customers with real-time data to support decision-making has been a strong trend in the legal and professional services industry. The changing economy and competitive market conditions require the need for real-time data to adjust targets and protect profitability.

“One of the most important benefits of Xcelerate is that it simplifies our ability to compare budgets to actuals, helping us more accurately identify potential cost savings.” said Kelly Henderson, Director of Finance at Steptoe & Johnson PLLC.  OLAP Vision seeks to contribute not only to the efficiency of its customers’ operations but also their bottom-line, empowering staff to spend their time generating revenue.

OLAP Vision achieved a number of major milestones, including:

Business Growth: OLAP Vision accelerated its growth from 2015, more than doubling both its customer base and top-line revenue. 2016 saw quarter over quarter growth, and an annual growth of over 100%. OLAP Vision has become a trusted partner in the legal and professional services industry. Today, six of the top 20 global law firms alongside a rapidly growing number of AM Law 100 firms trust OLAP Vision with their budgeting, forecasting and financial reporting requirements.

Organization Expansion & Strategic Investments: OLAP Vision upgraded their office facilities by moving to a new central location in Toronto, Ontario. The larger space has allowed continued investment in growing out the product, implementation, sales and customer support teams.

About OLAP Vision:

OLAP vision is an innovative technology company, delivering solutions for mid to large legal and professional services firms globally. OLAP Vision’s flagship product, Xcelerate™, is the only Excel and Web-based budgeting and forecasting application specifically for its industry and offers seamless integration with 3E® and Enterprise™. Operating in both Toronto and Hong Kong, OLAP Vision serves the world’s largest law firms and professional services organizations across the world.

Watch now: xcelerate in 2 minutes: https://vimeo.com/130578461
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133%+ increase in new customer acquisition, revenue more than doubling caps off a record Q1.

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Most innovative technology and vendor nomination alongside rapid adoption of the xcelerate platform by the world’s largest law firms drives yet another record breaking quarter for OLAP Vision.

OLAP Vision has continued their success and shows signs of continued rapid growth well into 2016 with doubles all around. The highlights of 2016 Q1:

  • Revenue more than doubled in 2016 Q1 compared to the same time period in 2015, with a strong forecast projected for the remainder of the year.
  • Over 133% increase in new customer acquisition compared with the same time period last year.
  • Five consecutive positive growth quarters already in the books.
  • Nomination of xcelerate and OLAP Vision for the most innovative technology and solution provider.

The rapid adoption of OLAP Vision’s innovative product, xcelerate, is credited for being the driving force behind the company’s record breaking 2015 which has now carried forward to Q1 of 2016, outperforming all previous records. OLAP Vision is set to have another record breaking year for new sales and revenue growth. The xcelerate platform is quickly being embraced as the preferred choice of law firms and professional services organizations. Xcelerate has turned a manual and time intensive process into an automated, seamless solution with real-time analytics – all while keeping the users in Microsoft Excel. Xcelerate is the preferred choice of 4 top 10 global firms with revenues over $1.1b to $3.5b + annually and for many AM Law 100 ranking firms representing the largest law firms headquartered  in the United States.

According to Jag Dhariwal, Vice President of Global Sales, “The legal industry is recognizing xcelerate amongst the most innovative technologies because of the scalability and flexibility of the xcelerate platform to extend well beyond the traditional budgeting and forecasting capabilities of other solutions. We are honored to be nominated in this category amongst our talented peers. We are thrilled by our results to date and look forward to an even stronger year ahead.”

Customer case studies highlight the ease of use, high user adoption, quick deployment and successful implementations and roll out of xcelerate, on-time and on-budget.

Ameet Kamat, Vice President of Global Services and Customer Success remarks, “We are seeing the fruits of our 100% dedication to the legal and professional services industry and our customers recognize us as the industry leader in customer service and product innovation. Xcelerate is designed exclusively for the legal industry with a rapid deployment methodology to help firms automate their critical finance and business processes without giving up their treasured Excel spreadsheets– our customers applaud xcelerate as a product built specifically for them as finance professionals.”

Watch now: Xcelerate in 2-minutes

To learn more about how xcelerate can help your firm succeed in 2016 and beyond, register for a demo today and read law firm customer case studies:

CASE STUDY 1: Parker Poe Adams & Bernstein LLP

CASE STUDY 2: Buchanan Ingersoll & Rooney P.C.

New office expansion provides customers access to greater products and services

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5255 Yonge Street, Suite 905, Toronto, ON, M2N 6P4, Canada

We are very excited to announce that we have moved to a brand new office located in the heart of Toronto! Given the explosive expansion we have experienced over the last year, OLAP Vision has moved into a spacious new location just down the street from our previous building.

2016 is off to a strong start and we are continuing to make significant investments into our various teams as a result of a record breaking year in 2015 which included an astounding 143% YoY growth in the user base of xcelerate Budgeting & Forecasting through adoption of the solution by many top AM Law 100 and global firms.

We are ecstatic with our new location and even more excited to share big news throughout 2016. With the move to our new office we achieve the following:

1) Scale our business to new heights: We achieved record breaking revenue in 2015 with over 300% YoY revenue growth and an exponential increase in new customers. With a larger space we expand our team and operations and are able to achieve our 2016 goals with greater certainty. We continue to provide innovative, world class products and services to our customers and help firms achieve even greater success through our laser focus and dedication to the legal and professional services industry.

2) Modernize our business: The new location allows us to continue to implement and utilize the very best in modern infrastructure to continue to exceed our customers’ expectations by providing top ranked technology and services that they have come to expect from our team.

3) Cultivate innovation and growth: We provide an atmosphere for our employees to channel their ingenuity and creativity. We continue to deliver the most innovative products and services for the legal and professional services industry, which help our customers enhance their competitive advantage and keep ahead of their business challenges.

4) Environmental sustainability and corporate responsibility: We are committed to being a responsible member of our community by implementing environmental sustainability and corporate responsibility practices within our organization. Our new office is BOMA BEST certified GOLD – the Canadian industry standard for sustainability and environmental performance management. We continually seek new ways to reduce our environmental impact and ensure our working spaces are optimized to provide our team with the very best environment to drive product innovation and unmatched customer service.

A very special thank you to all of our customers and partners for their ongoing support and trust in our team – without you this success and expansion would not have been possible. Our new office address is 5255 Yonge Street, Suite 905, Toronto, ON, M2N 6P4, Canada.

Our door is always open – please drop by for a visit and say hello!

OLAP Vision responds to ‘best year ever’: making significant investments to support recording breaking growth in 2015

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Significant investments in talent, product, services and global expansion.

Toronto, Canada, December 11, 2015  – OLAP Vision is in the midst of a record breaking year on track to well exceed revenue predictions for the second half of 2015. With the rapid traction and adoption of xcelerate coupled with providing unparalleled certified services for ProLaw, we are on track to reaping the benefits of staying focused and committed to world class products with the best customer service.

OLAP Vision’s accelerated growth is attributed to the success of and strong market demand for the xcelerate Budgeting and Forecasting solution built specifically for the legal and professional services industry with standard integration into Elite products. To continue our growth, we have implemented four key strategies this year to continue to provide outstanding value to our customers into 2016 and beyond:

Investment in top talent:

We have made significant investments to expand our product development and implementation teams. As a result of the rampant growth in 2015 and the projected record growth for 2016, the addition of talented and experienced resources allow for OLAP Vision to forge ahead and continue to innovate and provide solutions to keep ahead of the demands of law firms and professional services organizations.

Our product development team continues to work closely with our customers to add new features to our xcelerate Budgeting & Forecasting product line ensuring our customer are able to squeeze all the value possible to benefit their business and stay ahead of their challenges. Our implementation team is laser-focused on the needs of our customers. Our team provides best practices driven expert advice and recommendations that are custom tailored for each client, ensuring implementations are right the first time – on time and on budget.

Expansion into global markets:

OLAP Vision currently supports clients in four major global markets and continues to support international expansion through strategically placed offices in Toronto and Hong Kong. The surge of an international end user community is a true testament to the adaptability of xcelerate in all global markets and its ability to support any business case.  Given the early success in new markets, OLAP Vision plans to continue to expand its footprint to across the globe.

Growth of consulting services:

OLAP Vision further demonstrated its commitment and dedication to the legal and professional services industry by completing extensive certification training becoming an official ProLaw services partner for Thomson Reuters Elite. On the heels of over 20 years of relevant industry experience, numerous ProLaw customers have selected us to lead their implementations and the results are astounding with customer satisfaction survey results coming back with top marks. Our ProLaw certified experts are showcasing our ability to provide expert guidance from experienced resources who understand your business, provide strong value, and deliver results on time and on budget.

Investments in product development:

Rapid adoption, speed of new feature releases and numerous customer testimonials have provided testament to xcelerate’s superiority over other budgeting, forecasting and reporting solutions. As a result, referral business has been a vital part of the incredible growth of xcelerate, which continues to exceed projections and expectations. Significant R&D investments ensure that xcelerate continues to evolve with the business requirements of our Thomson Reuters Elite customers and remains the industry standard for legal and professional services budgeting and forecasting solutions. We continue to innovate and provide our customers with a seamless, unified, single solution that connects the firm through standard integration and legal/professional services industry best practices.

“It is evident that today’s legal and professional services customer is looking for a turnkey, unified budgeting, forecasting and reporting solution tailored to their business with seamless integration into Elite and other source systems. Our customers say they are blown away by how quickly xcelerate has benefitted their firm – the ROI is immediate and significant.  Our rapid implementations are best practices driven and allow for customers to reap the benefits of xcelerate in a few short weeks for quick time to value with incredible time and cost savings.” explains Ameet Kamat, Senior Director, Global Services.

This year has been pivotal for OLAP Vision with all the exciting new changes and investments in top talent, product, new services and global market expansion to support their best year ever.

“We take great pride in the expertise and dedication of our highly talented and experienced team and their ability to provide measurable value and actionable results that benefit our global customers in ways never before possible,” remarks Jag Dhariwal, VP Global Sales when asked about the success the company has seen so far in 2015. “Our customers can expect greater value and continued exciting growth in the future and depend on us to provide them with trusted, expert and high value products and services that are focused on the needs of the legal and professional services industry. The foundation is set for a bright future!”

Register for a personal xcelerate demo: elite.com/xcelerate or sales@olapvision.com

Record breaking revenue reported by OLAP Vision

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Record numbers driven by rapid industry adoption and addition of new services:

Toronto, Canada, November 30, 2015 – OLAP Vision, the market leader in budgeting, forecasting and reporting solutions for law firms and professional services organizations has reported explosive growth in Q1 and Q2 of 2015 for the best year ever and is expecting continued momentum for a record breaking 2015.

Key highlights for the year so far:

  • 300%+ YoY growth in 2015 Q1 and Q2.
  • Doubled team size in both 2014 and 2015.
  • Strong pipeline heading into the second half of 2015 including exponential growth of new customers.
  • Unmatched customer success with referral business accounting for over 90% of new sales.

The record numbers in early 2015 are attributed to the rapid adoption of xcelerate Budgeting & Forecasting solution and the addition of ProLaw services to OLAP Vision’s existing portfolio. In the first half of 2015 alone, 14 clients integrated xcelerate Budgeting and Forecasting with their 3E and Enterprise™ solutions to protect profits with real-time insights. Many of these clients are among the largest law firms in the world, with annual revenues exceeding $3 billion, and are ranked in the AM LAW 100, proving xcelerate is the best-of-breed solution in the legal and professional services industry. Clients are thrilled to report the immediate ROI and quick time to value. OLAP Vision’s recent certification as a ProLaw services provider has further contributed to the record year, on the heels of numerous successful projects and top marks in customer satisfaction surveys from each of OLAP Vision’s ProLaw clients to date.

“We are ecstatic over the numbers and success we have seen for both xcelerate and ProLaw consulting services and are eagerly awaiting the second half numbers. The market has embraced xcelerate and confirmed it’s the right solution for their firm. With real-time planning and reporting directly in MS Excel, our customers have precise and critical information at their fingertips to increase their competitive advantage and ability to hit their revenue and profitability targets with greater certainty. Attorneys love the ease of use, executives rave about the never before seen details and quick access to vital information to drive strategic decisions and finance teams applaud the detailed real-time planning and ease of reporting, ” Jag Dhariwal, VP, Global Sales.

Register for a personal xcelerate demo: www.elite.com/xcelerate or sales@olapvision.com

 

 

xcelerate Secures Significant Market Adoption

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3E Financial Reporting and xcelerate Budgeting and Forecasting Secure Significant Market Adoption in First Year of General Availability

Thomson Reuters Elite, part of Thomson Reuters Legal, today announced the success of the 3E® Financial Reporting and xcelerate Budgeting and Forecasting Microsoft® Excel®–based solutions since they were launched at the VANTAGE 2014 London User Conference. A total of 45 3E clients have selected the Financial Reporting multi-dimensional database technology to gain advanced analytical features and highly formatted financial statement. In the first half of 2015 alone, 14 clients integrated xcelerate Budgeting and Forecasting with their 3E and Enterprise™ solutions in order to protect profits with real-time insights.

“xcelerate’s dashboard functionality enables our team to quickly turn around critical processes by generating reports, automating manual processes, and drilling down to additional details,” said Greg Molchan, financial systems and reporting manager at Parker Poe. “Our implementation team has been blown away by the product and how quickly it has benefitted our firm.”

Charles Furness-Smith, finance director at Nabarro LLP commented, “Our approach to adopting new systems is motivated by our need to improve the service we offer clients. xcelerate will help make our budgeting processes more efficient, which in turn, will give our clients greater certainty when it comes to their legal costs.”

“3E and Enterprise clients have been very receptive to the latest financial business intelligence developments at Elite, and we are thrilled that so many have already seized the opportunity to leverage 3E Financial Reporting and xcelerate in order to make better informed business decisions and amp up profits,” said Elisabet Hardy, vice president of Product Management at Elite. “Because both of the solutions are easy to navigate through their Web- and Excel-based environments, include rapid implementation processes that reduce setup time by up to 50 percent, and put near-real-time data at users’ fingertips, we anticipate many more clients making the decision to move ahead to a more profitable future in coming months.”

Read the full article or register for a free demo at sales@olapvision.com or elite.com/xcelerate